Liquide Post-Market Summary 27th June 2023

The markets ended the day on a positive note, as buying activity was witnessed in index heavyweights during the latter half of the day, leading to an upward movement in benchmark indices. However, despite the positive trend, the Nifty once again fell short of reaching its all-time high levels, ending the day approximately 70 points below that mark. Nifty managed to close above 18,800, shrugging off weak global cues, thanks to short-covering activities ahead of expiry day.

NIFTY: The index opened 57 points higher at 18,748 and made a high of 18,829 before closing at 18,817. Nifty has formed a Bullish candle on the daily chart, which supports an uptrend. Its immediate resistance level is now placed at 18,880 while support is at 18,700.

BANK NIFTY:  The index opened 163 points higher at 43,804 and closed at 44,121. Bank Nifty has formed a bullish candle on the daily chart. Its immediate resistance level is now placed at 44,350 while support is at 43,700.

Indices closing for 27th June 2023
Major Market Indices data
Nifty Gainers & Losers

Stocks in Spotlight

▪  Axiscades Technologies: Stock was locked in at 5% upper circuit after the company completed re-financing of Rs 210 crore debt.

▪  Bharti Airtel: Stock gained 2% after the company announced changes in leadership in Airtel Business - its enterprise business arm.

▪  HDFC Twins:  Stocks of HDFC and HDFC Bank gained nearly 1.5% after Chairman Deepak Parekh said the merger between both the companies is expected to be completed by July 1.

Global News

▪  European markets opened slightly higher on Tuesday afternoon before slipping into the red as investors monitored comments from central bankers at the ECB Forum in Sintra.

▪  Asia-Pacific markets traded mixed on Tuesday, after Wall Street’s tech sell-off which saw Tesla tumbling 6% after Goldman Sachs downgraded the electric car maker, citing pricing headwinds.

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